Countries across world brace up for Greece turmoil

The Bank of Japan is prioritising market stability,according to one source,with economists saying the banks main concern would be to stop the yen taking off. Intervention would be a likely response should the yen rise too high for the authorities taste. With G20 leaders meeting in Mexico next week there is even speculation of a coordinated global response although no evidence of that has emerged.

India has a range of crisis management groups within the government set up to deal with euro zone-triggered stress,according to Kaushik Basu,finance ministers chief economic adviser. In China,key agencies including the central bank,have been asked to come up with similar plans,sources said last week.

The big concern for all these countries is that a victory on Sunday by parties in Greece opposed to austerity attached to its second bailout will send the euro zone further into crisis by pushing the country towards the currency blocs exit door.